Royal Bank of Canada Upgrades Lightspeed Commerce (NYSE:LSPD) to Moderate Buy

Royal Bank of Canada upgraded shares of Lightspeed Commerce (NYSE:LSPD) from a strong sell rating to a moderate buy rating in a research report report published on Friday,Zacks.com reports.

A number of other analysts also recently issued reports on the stock. BTIG Research restated a “buy” rating and set a $21.00 price objective on shares of Lightspeed Commerce in a report on Thursday, September 26th. TD Securities raised their price target on shares of Lightspeed Commerce from $15.00 to $19.00 and gave the stock a “hold” rating in a research note on Friday. Wells Fargo & Company lowered their price target on shares of Lightspeed Commerce from $17.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. Piper Sandler increased their price objective on Lightspeed Commerce from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Monday. Finally, JPMorgan Chase & Co. boosted their target price on Lightspeed Commerce from $20.00 to $26.00 in a research note on Friday. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $19.88.

Lightspeed Commerce Stock Up 4.0 %

Lightspeed Commerce stock opened at $17.75 on Friday. The stock has a market cap of $2.69 billion, a PE ratio of -19.94, a price-to-earnings-growth ratio of 10.75 and a beta of 2.35. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.06 and a current ratio of 6.19. The firm’s 50-day simple moving average is $14.92 and its 200 day simple moving average is $14.13. Lightspeed Commerce has a fifty-two week low of $11.01 and a fifty-two week high of $21.71.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. The business had revenue of $277.18 million for the quarter, compared to analysts’ expectations of $273.90 million. Lightspeed Commerce had a negative return on equity of 0.10% and a negative net margin of 13.56%. Research analysts predict that Lightspeed Commerce will post 0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Lightspeed Commerce

A number of institutional investors have recently added to or reduced their stakes in the business. Toronto Dominion Bank increased its holdings in shares of Lightspeed Commerce by 102.8% in the 2nd quarter. Toronto Dominion Bank now owns 6,870 shares of the company’s stock worth $94,000 after buying an additional 3,482 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Lightspeed Commerce during the second quarter valued at about $181,000. Aigen Investment Management LP bought a new stake in Lightspeed Commerce during the third quarter worth about $225,000. Addenda Capital Inc. boosted its holdings in shares of Lightspeed Commerce by 10.5% in the 2nd quarter. Addenda Capital Inc. now owns 44,041 shares of the company’s stock worth $603,000 after purchasing an additional 4,196 shares in the last quarter. Finally, Boulder Hill Capital Management LP bought a new position in shares of Lightspeed Commerce during the 1st quarter valued at about $811,000. 68.68% of the stock is currently owned by institutional investors.

About Lightspeed Commerce

Lightspeed Commerce Inc engages in sale of cloud-based software subscriptions and payments solutions for small and midsize businesses, retailers, restaurants, and golf course operators in North America, Europe, the United Kingdom, Australia, New Zealand, and internationally. Its Software as a Service platform enables customers to engage with consumers, manage operations, accept payments, etc.